Schedule O—Controlled Group section 179, column (f)
According to Schedule O Instructions, any Section 179 deduction shouldn't be reported on Schedule O.
Members of a Controlled Group need to attach a consent statement with the Section 179 information as prescribed under Regulations section 1.179-2(b)(7). UltraTax CS generates this consent statement automatically when the Section 179 fields are completed in the
Ctrl
screen and Ctrl-2
screen for a controlled group, or in the Affil
screen for a consolidated Group.
